FAQs about Online Line of Credit

About Online Line of Credit

A Line of Credit provides convenient, personal access to money when you need it. Apply just once, and receive approval up to a specific credit limit. Then, withdraw money as you need it up to your approved amount. You only pay interest on the money you withdraw, and the rest remains available if needed. Here's a quick video that explains more about a personal line of credit.

Having a Line of Credit is like having emergency money whenever you need it. You apply only once and the line stays open and allows you to draw money anytime - as long as your account is in good standing and there is credit remaining in your account. And, because you do everything online, it's quick, easy and secure - and the money gets to you fast.

As long as you continue to make on-time payments on the money you withdraw, you can continue to withdraw funds up to your maximum approved credit limit. Keep in mind, as long as you have an open line of credit, other Advance America loans are not available. Once paid in full, you can close your line of credit at any time if another loan option works better for you.

Don't worry, you don't need perfect credit to get approved. As part of the application process, we receive information from third party data providers, including information about your credit history from various credit reporting agencies. We use this information as well as your income and personal information to determine a line of credit just for you.

If you've defaulted on past transactions with Advance America, your Line of Credit application may be declined.

When you withdraw money from your Line of Credit, the funds will be deposited into your bank account typically the next banking day. To receive your funds the next banking day, your withdrawal request must be confirmed by 8pm ET. We will always try our best to get the money you need in a timely manner; however, your bank may affect when your funds will be available. We will notify you of any changes with the disbursement of your funds.

Typically your payments will be due monthly or every 28 days, depending on your pay cycle. Payments are aligned with a pay date, and will be automatically processed from your bank account. Each billing cycle you will receive a billing statement that will include the due date and minimum payment amount for that cycle. You can also schedule a separate payment through your online account at any time or mail in payments.

No, you only apply once and have continued access to your line of credit. As long as you make on-time payments on the money you withdraw, you can continue to withdraw funds up to your maximum approved credit limit.

Yes, you can pay your full balance or make incremental payments anytime without pre-payment penalties. Simply log in to your account, and select your payment amount and date. If you make an early payment that does not cover the full amount you have borrowed, the rest of the payment will be processed automatically on the regularly scheduled payment date. For example, if you have a scheduled minimum payment due of $150 and you pay $100 before the due date, then the automatic payment amount will be only $50, which is the remainder of the regularly scheduled payment.

Yes, because the money is deposited directly into your bank account, bank holidays could delay the timing of your deposit. The following bank holidays are observed by all federal banks:
New Year's Day
Martin Luther King, Jr. Day
Presidents' Day
Memorial Day
Independence Day
Labor Day
Columbus Day
Veterans Day
Thanksgiving Day
Christmas Day
For holidays falling on a Saturday, Federal Reserve Banks will be closed the preceding Friday. For holidays falling on a Sunday, all Federal Reserve Banks will be closed the following Monday.

Managing My Online Account

Once approved, you have the option to select an initial amount of money from your Line of Credit. As long as your account is in good standing and there is available credit in your account, you can simply log into your online account to request more money at any time.

If you would like to close your line of credit, you may request to do so by calling customer support at 1-877-505-0701. Please note that to fully close your line of credit you must have a $0.00 balance.

*Advance America Applications processed before 8PM ET are typically funded the next banking day, but exceptions may apply. If we are unable to verify your application electronically, we may ask you to provide certain documents before final approval.

A single payday advance is typically for two to four weeks. However, borrowers often use these loans over a period of months, which can be expensive. Payday advances are not recommended for long-term financial solutions.